Sizing cyber: banks split on who owns and measures hack threats

G-Sibs split on risk modelling and management for IT disruption and infosec

This article is part of our series scrutinising op risk practices at the world’s biggest banks – a new initiative. The other articles in the series can be found here.

Often seen as two sides of the same coin – and treated as such by many banks – cyber risk, in its two most pervasive forms, has dominated the Top 10 Op Risks almost since its inception in the wake of the financial crisis (back then, under the moniker “cyber crime and internet risk”).

For that reason, this article analyses IT